HughGRection

Retraced to 0.382 Fib with RSI divergence

Short
FX:GBPUSD   British Pound / U.S. Dollar
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2
The GBP/USD has finally reached an ideal level to short from after retracing to the 0.382 Fib line. Technically, the RSI divergence reinforces this scenario. Fundamentally, the GBP shouldn't have the same support the EUR has had the past few days from yield chasing. Keeping the stop tight, but it's statistically worth staying in with a downside of sub 1.50 in sight. Tuesday's stacked docket could provide the catalyst needed for the move.

Comments

Didn't specify on this one, but I like the short from the 1.54 range.
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